Caterpillar will move headquarters to Chicago area, citing transportation access
The Chicago Tribune article, “Caterpillar will move headquarters to Chicago area, citing transportation access,” quoted Russell Reynolds Associates Consultant Clare Metcalf about how Caterpillar will benefit from relocating its headquarters to Chicago. The article is excerpted below.
Caterpillar said Tuesday it would scrap plans to build new offices in Peoria and instead relocate its headquarters and 300 employees to the Chicago area, becoming the latest in a series of high-profile companies seeking a bigger talent pool and better transportation options.
Clare Metcalf, Midwest region head for consultancy Russell Reynolds Associates, an executive search and leadership advisory firm, said a city relocation like the one Caterpillar is planning not only makes it easier to recruit both executive and millennial talent, but it also suggests the company is trying to modernize itself.
"Some organizations feel that it is more contemporary, more future thinking," Metcalf said. "Cities — particularly Chicago — have a bit of panache."
The reason companies are gravitating to cities is not just because of the ability to dip into urban talent pools, she said. It's also because companies are adopting more flexible work schedules that may include telecommuting and work out of different offices. A schedule of two days in the suburbs and three days at the downtown headquarters is becoming a far more common scene for U.S. professions, Metcalf said.
To read the full article, click here.